Cato reports Q3 net loss of $6.1M; sales down 10% YoY to $156.7M

CATO CORP

2023-Q3 EPS reported -$0.02 revenue$533,177,000

Net loss of $6.1M ($0.30 per diluted share) vs net loss of $4.5M ($0.21) in prior-year Q3.
Sales fell 10% to $156.7M; same-store sales decreased 8%.
Gross margin rate improved to 32.5% from 29.3% on higher merchandise margins.
Year-to-date net loss of $0.5M ($0.02 per share) vs net income of $3.0M ($0.14) last year.
Store count reduced to 1,245; closed 44 stores YTD vs 9 openings.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CATO CORP reported third quarter ended October 28, 2023 results: revenue $156.7 million, net income net loss of $6.1 million, EPS ($0.30) per diluted share.

Period: third quarter ended October 28, 2023
Revenue: $156.7 million
Net income: net loss of $6.1 million
EPS: ($0.30) per diluted share
Result: reported results

Exact text from the filing

2023, compared to a net loss of $4.5 million or ($0.21) per diluted share for the third quarter ended October 29, 2022. Sales for the third quarter ended October 28, 2023 were $156.7 million, a decrease of 10% from sales of $174.9 million for the third quarter ended October 29, 2022. The Company’s same-store sales for the quarter decreased 8% compared to 2022. For

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Source: SEC EDGAR

accession 0001562762-23-000426

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